Stock Market Live Update: Sensex Down by 74 points, Nifty Below 24,800 as PSU Banks dragBanks

Stock Market Live Updates: The Indian stock market opened in green on Thursday after Gift Nifty indicated an upbeat start of the trading session today. The gap up opening of the Indian stock market today has come after the Indian benchmark indices ended with losses in last two trading sessions.

BSE Sensex closed 239 points lower at 81312 points, whereas Nifty 50 was down nearly 73 points to 24752.45 points on Wednesday. Meanwhile, the global stock market witnessed a bloodbath in last trading session as S&P 500 was down by 39 points and Nasdaq Composite ended the session 98 points lower.

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Broader market outperformed with Nifty Midcap100 and Smallcap100 gaining 0.2-0.3% each. There was buying interest in PSU Banks and Financial Service stocks, while FMCG index declined by 1.4% due to selling pressure. Metals, pharma, healthcare and auto indices followed with loss of 0.5-0.6% each.

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The Indian government released IIP data on Wednesday which indicated a slowdown in industrial production growth rate to 2.7% in April.

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